Gold Coins

A gold coin is a coin that is made entirely or mostly of gold. Nowadays, gold coins are sold to collectors or are used as bullion (precious metal used for trade or investment. The monetary value of the bullion is determined by its weight and by the purity of the metal it is made of, not by its face value.) The value of a gold coin is derived from a number of factors: the first date of issue, how many coins were originally issued, the number of coins on the market, and the coin's condition. In Israel in 2010, the Israel Coins and Medals Corporation began issuing a 24 karat gold coin weighing once ounce. This is an official coin approved by the Bank of Israel, and its value is updated daily according to the price of gold.